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Muhammad Haider
Muhammad Haider,
Category: Tax
Satisfied Customers: 817
Experience:  Director at HM Accountax
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I am a locum social worker currently using an umbrella

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I am a locum social worker currently using an umbrella company to be paid but looking to undertake additional work. These assessments would be like me having my own business but not sure if this money would be better paid on a self employed basis (sole trader) or to set up a limited company
JA: JustAnswer requires a modest payment. You'll see the amount on the next page. It's way less expensive and more convenient than any face-to-face visit.
Customer: Ok
JA: Are you filing as a sole proprietor or independent contractor?
Customer: independent contractor
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: Il be still working through the umbrella for one role but this would be a separate role that I’d do outside of my normal working pattern

Hi,

I am an advisor at JA and happy to assist you.

How much are you currently on? How much are you expecting to receive in the new role?

Regards

HMAT

Customer: replied 1 month ago.
I am currently earn gross salary around £58k-£61k a year through the umbrellaI will be earning around further £20k gross In this other role, now I’m not sure whether I should set this additional role as a sole trader or ltd
Customer: replied 1 month ago.
I can earn varying amounts in the additional role

It will be more beneficial taxwise to register as self employed. you'll pay tax at 40% in self employment but 51% as Limited Company.

Customer: replied 1 month ago.
I don’t wish to call

Its ok

Customer: replied 1 month ago.
Ok thankyou, I was wondering what the best one to do was
Customer: replied 1 month ago.
Is there any point in which I have to register as a limited company

Best one is self employment

If you think that you are going to cross £100k, please register a limited company at t hat point

Customer: replied 1 month ago.
Ok no I think it will be under the 100k mark.
Do I need an accountant for self employment?

It depends - If you think you can do tax return yourself then you don't need an accountant.

Muhammad Haider and other Tax Specialists are ready to help you